TravelCenters files public stock offering via Citi, Morgan Keegan, UBS

Proposed financing includes greenshoe for 1.5 million more shares

By Susanna Moon

Chicago, May 17 - TravelCenters of America LLC registered a public offering of 10 million common shares in a 424B5 filing with the Securities and Exchange Commission. The deal also includes an over-allotment option for another 1.5 million shares.

Proceeds will be used for general business purposes, including funding capital improvements to existing travel centers, acquisitions of additional travel centers and other expansion activities.

The company's shares closed at $7.52 (NYSE Amex: TA) on May 17.

Citigroup Global Markets Inc., Morgan Keegan & Co., Inc. and UBS Securities LLC are the joint bookrunners.

TravelCenters is a Westlake, Ohio-based network of full-service travel centers.

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